Tuesday, October 17th, 2017

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Four Steps To Your First Million

Did you know you can be a millionaire if you invest only one dollar a day? It may take 56 years to achieve one million dollars, but becoming a millionaire isn’t as difficult as you may think.

Mark Victor Hansen, coauthor of "Chicken Soup for the Soul" and Robert G. Allen, author of "Nothing Down" and "Creating Wealth" have decades of experience in teaching people how to achieve extraordinary wealth and success. They have written a new book together, "The One Minute Millionaire," which shares their secrets and guides you toward achieving personal wealth.

"You may wonder if it’s possible to make a million dollars in only one minute. The answer may surprise you!" Allen says. "We wrote this book to help the average person build wealth – whether your goal is less than a million dollars or that amount many times over."

No matter what your present circumstances are, here are four steps from "The One Minute Millionaire" to help you achieve your first million:

1. Decide it’s okay to become a millionaire.
Some people believe the accumulation of wealth is an unworthy goal. Before you begin your journey to become an enlightened millionaire, make sure you can create wealth in a way that will support your inner beliefs and values.

2. Imagine yourself enjoying an abundant lifestyle.
Every great fortune started in someone’s imagination. Imagine yourself living in the home of your dreams, enjoying ideal relationships with friends and loved ones, contributing to the world with your unique talents and abilities. Imagine the fortune you could create and the good it could do. Believe and you will see it.

3. Spend less than you earn.
But how? Pay yourself first. Deduct 10 percent off the top of your income, and deposit it into your investment account. Convert all your credit cards except one to debit cards so it is impossible for you to go into debt. Then live on what is left over.

4. Invest the difference.
Invest your 10 percent surplus into investments that can earn at least 10 percent. A dollar a day invested at 10 percent interest becomes a million dollars in 56 years. In other words, anyone can become a millionaire by investing only a dollar a day – 30 bucks a month. If you want to become a millionaire faster, then invest more money or find ways to make your money grow at higher rates of return.

"A million dollars is something kids wish for, right along with the ability to fly, and that’s how many adults continue to think about it – as a dream," says Allen. "But unlike the ability to fly, making a million dollars is a dream you can make come true."

The only question is why are you waiting to make that dream a reality?

Reprinted with permission from FeatureSource.

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